Pay Later Financial Services Inc.

Pay Later Financial Services Inc. offers flexible financial solutions for travel-related purchases, enabling consumers to manage their travel budgets through innovative buy-now-pay-later options that enhance accessibility to travel financing. Founded in 2013, Pay Later Financial Services Inc. is headquartered in London, UK.

The company specializes in providing payment solutions for travelers and has successfully completed 8 deals, with their latest funding round occurring on January 11, 2022. In this round, the company raised GBP 55. 2 million in VENTURE DEBT financing, led by Atalaya Capital Management. The founders, Edgars Kohs, Jasper Dykes, and Stuart Jeffrey, have a diverse background in financial services, with Jasper Dykes currently serving as the CEO.

Fly Now Pay Later provides innovative financial solutions designed to facilitate travel-related purchases through flexible payment options. Their core offerings include a buy-now-pay-later service that allows consumers to finance travel expenses, enabling customers to book flights and accommodations without the immediate financial burden. This service primarily targets consumers seeking to manage their travel budgets effectively, addressing the need for accessible travel financing. Fly Now Pay Later operates in the United Kingdom, Europe, and select markets in North America, catering to a diverse client base that includes both individual travelers and travel agencies.

The acquisition by Guavapay is expected to enhance their product suite, potentially expanding their capabilities in providing a broader range of financial products tailored to the travel industry. Fly Now Pay Later generates revenue primarily through transactional fees associated with its financing services. When a customer uses their buy-now-pay-later option, the company receives a percentage fee from the merchants or service providers involved in the transaction. This structure allows for B2B partnerships with travel agencies, airlines, and accommodation providers who integrate Fly Now Pay Later into their payment offerings.

The company’s flagship product, which is aligned with its trademarked brand image, plays a crucial role in driving these transactions. Revenue is strategically supplemented through partnerships and possibly commissions earned from retailers, enhancing their growth potential in the competitive travel financing market. For the most recent financial year 2021, the EBITDA reported was GBP -1,864. 4.

In January 2022, Pay Later Financial Services Inc. raised GBP 55. 2 million in VENTURE DEBT financing led by Atalaya Capital Management. The company plans to use this funding to expand its operations into the US market, targeting growth and new customer acquisition.

This strategic initiative aims to broaden its geographic reach and tap into a larger consumer base in the rapidly evolving financial services landscape.